Daily Research News Online

The global MR industry's daily paper since 2000

SurveyMonkey Q4 Revenue Up 20%

February 12 2021

SurveyMonkey has reported a 20% increase in total revenue to $101.0m for the fourth quarter, ended December 31st 2020. Full-year 2020 revenue was up 22% year-on-year to $375.6m.

Zander LurieDuring Q4, the firm's Enterprise revenues increased 39% to $29.8m, and accounted for approximately 29% of total revenue, up from around 25% in Q4 2019. SurveyMonkey had c.8,200 Enterprise customers in Q4, an increase of 24% from approximately 6,600 in Q4 2019. Fourth quarter Self-serve revenue was $71.2m, a 13% increase.

Fourth quarter paying users totaled approximately 820,300, up around 14% from 720,900 in Q4 2019, and an increase of approximately 17,100 paying users from Q3 2020. Roughly 88% of paying users were on annual plans, up 84% from a year ago. Average revenue per user was $494, compared with $467 in Q4 2019. For the full year, Enterprise sales revenue was up 65% to $107.9m, and Self-serve revenue was $267.7m, an annual increase of 11%.

Full year GAAP operating margin was negative 21.7%, while the non-GAAP figure was +2.7%. 2020 GAAP net loss was $91.6m and non-GAAP net loss $0.7m.

CEO Zander Lurie (pictured) comments: 'The SurveyMonkey team remained focused in a challenging 2020, delivering 22% year-over-year revenue growth, over $45m in free cash flow, and agile, new products and solutions that help customers listen, learn, and take action for their stakeholders. Our Q4 book of business remained strong with more than 500 new enterprise customers, and we are confident we can move further up-market in 2021 through continued product innovation that helps even more enterprises turn feedback into action'.

First quarter revenue guidance is in the range $99.5 - $101.5m, below analyst forecasts which averaged around $104.9m, and shares - which had climbed 25% in the last two and a half months - fell back around 16% today to c.$24.

Web site: www.surveymonkey.com .

All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

Select a region below...
View all recent news
for UK
View all recent news
for USA
View all recent news
for Asia
View all recent news
for Australia


To receive (free) news headlines by email, please register online